Ontario additional tax re Crown royalties



As of April 23, 2015, to harmonize with the federal government and other provinces, the additional tax on Crown royalties and the Ontario resource tax credit are eliminated and replaced with a deduction for royalties and mining taxes. The credit and the tax are calculated on a prorated basis for tax years that include April 23, 2015.

The Ontario additional tax re Crown royalties is based on the corporation's:

  • notional resource allowance for the year, as determined in subsection 7(3) of Ontario Regulation 37/09 to the Taxation Act, 2007
  • adjusted Crown royalties for the year, as defined in subsection 36(2) of the Taxation Act, 2007 (Ontario)
  • Ontario allocation factor, as defined in subsection 1(1) of the Taxation Act, 2007 (Ontario)

Reporting the tax

File a completed Schedule 504, Ontario Resource Tax Credit and Ontario Additional Tax re Crown Royalties, with your return.

For more information on the additional tax, see the schedule and section 36 of the Taxation Act, 2007 (Ontario).

On line 274 of Schedule 5, Tax Calculation Supplementary – Corporations, enter the amount of the additional tax re Crown royalties.

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